Actis acquires SunPower’s 100 MW project in Chile

U.K.-based emerging market investor, Actis LLP has acquired El Pelícano solar power project from U.S. PV module manufacturer, SunPower, a subsidiary of French oil company Total, in northern Chile for an undisclosed sum.

The 100 MW solar plant, which was commissioned last week, is located on an area of 186 hectares in La Higuera, the Chilean region of Coquimbo.

“With a supportive regulatory environment and abundant solar resource, Chile is a market we know extremely well through our investments in the Aela Energía and Atlas Renewables platforms,” said Actis director Javier Areitio.

The facility is selling power to the Metro of the country’s capital city, Santiago de Chile (Metro de Santiago) under a long-term PPA, which is estimated at around 300 GWh per year.

As Acties stressed in its press release, this is not its first operation in the Chilean solar market. In late May, Chilean mining company, Antofagasta Minerals announced it has sold its 40% interest in the Javiera solar plant, located in the Antofagasta region of northern Chile, to Actis’ unit Atlas Renewable Energy.

In Latin America, the U.K. company is also developing a large-solar project in Mexico, where Zuma Energía, its joint venture with Mesoamerica, is developing two solar projects totaling 337 MW.